Pres. of Coinstar DVD rental biz resigns

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BELLEVUE, Wash. — Coinstar announced that Mitch Lowe has resigned as president of the company's DVD rental kiosk business, redbox. Lowe has resigned to pursue entrepreneurial and other interests, and will continue to serve as president until a successor is named. Coinstar has commenced an external search to identify a new president of redbox.

"On behalf of Coinstar and the redbox organization, I want to thank Mitch for his many contributions over the last eight years, particularly in establishing redbox as a leader in the home entertainment business," said Paul Davis, CEO of Coinstar. "A true entrepreneur, we wish him the best as he pursues other passions. I am also excited for the future of the redbox business, and as such, we will be seeking a new leader to help us realize the next chapter in the redbox growth story."